Evogene (NASDAQ:EVGN) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Evogene Ltd. (NASDAQ:EVGN)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.17 and traded as low as $2.31. Evogene shares last traded at $2.40, with a volume of 28,936 shares.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EVGN shares. Lake Street Capital dropped their target price on shares of Evogene from $30.00 to $12.00 and set a “buy” rating for the company in a report on Friday, August 23rd. StockNews.com initiated coverage on Evogene in a research note on Friday. They issued a “sell” rating for the company.

Evogene Price Performance

The company has a market cap of $101.39 million, a price-to-earnings ratio of -5.28 and a beta of 1.40. The firm has a 50 day simple moving average of $2.93 and a 200-day simple moving average of $5.14.

Evogene (NASDAQ:EVGN) last posted its earnings results on Thursday, August 22nd. The biotechnology company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.94). Evogene had a negative net margin of 210.26% and a negative return on equity of 72.33%. The company had revenue of $0.91 million during the quarter.

Institutional Investors Weigh In On Evogene

A hedge fund recently bought a new stake in Evogene stock. Renaissance Investment Group LLC bought a new stake in Evogene Ltd. (NASDAQ:EVGN) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 10,000 shares of the biotechnology company’s stock, valued at approximately $31,000. 10.40% of the stock is currently owned by institutional investors.

Evogene Company Profile

Evogene Ltd., together with its subsidiaries, operates as a computational biology company. It focuses on product discovery and development in life-science based industries, including human health and agriculture, through the use of its Computational Predictive Biology (CPB) platform. The company operates through three segments: Agriculture, Human Health, and Industrial Applications.